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UPS Union Issues
Ron Carey- Local 804 hero
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<blockquote data-quote="JonFrum" data-source="post: 761518" data-attributes="member: 18044"><p>Actually, no. UPS did not offer the Management Plan to us. They offered a sales brochure with proposed plan features that left <u>much</u> to be desired.</p><p> </p><p>There was, in fact, <u>no</u> <u>existing</u> <u>plan</u>. Management's offer was for us to end the strike, go back to work, and <u>then</u>, both sides would sit down and invent a plan. Of course, having ended the strike, all our bargaining power would be gone.</p><p> </p><p>Aside from the disappointing details in the sales brochure, the feature that made the proposal a non-starter was that UPS refused to rule out a Social Security Offset.</p><p>- - - -</p><p>By Law, UPS must fund the Management Plan 100%. So whenever the plan becomes under funded, UPS simply takes the required monies from the general UPS opperation and deposits them into the fund . Of course this means all of us are subsidizing the Management Fund to keep it sound. Unfortunately no law requires UPS to fund the multi-employer funds at anything near 100%, so it doesn't.</p><p> </p><p> All funds loose money when the stock market drops significantly as it did in 2000 and more recently. But the Law only forces UPS to fix the Management Plan promptly.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 761518, member: 18044"] Actually, no. UPS did not offer the Management Plan to us. They offered a sales brochure with proposed plan features that left [U]much[/U] to be desired. There was, in fact, [U]no[/U] [U]existing[/U] [U]plan[/U]. Management's offer was for us to end the strike, go back to work, and [U]then[/U], both sides would sit down and invent a plan. Of course, having ended the strike, all our bargaining power would be gone. Aside from the disappointing details in the sales brochure, the feature that made the proposal a non-starter was that UPS refused to rule out a Social Security Offset. - - - - By Law, UPS must fund the Management Plan 100%. So whenever the plan becomes under funded, UPS simply takes the required monies from the general UPS opperation and deposits them into the fund . Of course this means all of us are subsidizing the Management Fund to keep it sound. Unfortunately no law requires UPS to fund the multi-employer funds at anything near 100%, so it doesn't. All funds loose money when the stock market drops significantly as it did in 2000 and more recently. But the Law only forces UPS to fix the Management Plan promptly. [/QUOTE]
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